UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_______________________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) May 18, 2009
TEEN EDUCATION GROUP, INC.
______________________________________________________
(Exact Name of Registrant as Specified in Charter)
Delaware 333-147045 26-032648
________________________________________________________________________________
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
6767 W. Tropicana Ave.
Suite 207
Las Vegas, NV 89103
___________________________________________________
(Address of principal executive offices) (Zip Code)
(702) 248-1027
__________________________________________________
Registrant's telephone number, including area code
_____________________________________________________________
(Former name or former address, if changed since last report)
Check the appropriate box below of the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN
OFFICERS.
On May 18, 2009, the sole director of the Company, by written consent, selected
Gabor Szabo to be a member of the Board of Directors.
Gabor B. Szabo is a member of the BUDAPEST BAR ASSOCIATION since 1992 and has
served as its the President. He is a legal practitioner with professional
experience in the United States, United Kingdom and Italy. He specializes in
corporate laws, international tax planning, offshore fiduciary and management
and also advises on foreign collaborations, joint ventures and acquisitions in
Hungary. Before starting his own law practice, Dr. Szabo worked as a legal
expert of the Hungarian Government and participated in several double tax and
investment protection treaty negotiations. He is the managing partner of the LAW
OFFICES OF DR. GABOR B. SZABO & PARTNERS and main shareholder OF CONSULTORG KFT,
one of the very first Hungarian company management service providers. Dr. Szabo
collaborates with numerous international tax professionals, asset management
service providers and various European commercial and private banks. He is also
an active member of the INTERNATIONAL TAX PLANNING ASSOCIATION (ITFA) ASIAN
OFFSHORE ASSOCIATION (AOA) and some other professional organizations. He is also
a regular speaker of international tax planning conferences and being a regular
correspondent member of the "International Bureau of Offshore Investment," the
leading magazine of offshore professionals.
The following table sets forth the ownership for each class of equity securities
of the Company owned beneficially and of record by the two directors (and
officers) of the Company:
Name and
Address of Amount and
Beneficial Nature of Percent
Title of Class Owner Ownership (*) of Class
______________________________________________________________________
Common Robert L. Wilson 2,000,000 89%
70707 Frank Sinatra Drive
Unit 59
Rancho Mirage, CA 90067
Gabor Szabo 0 0
2nd Floor, No. 6
Becsi ut 52
Budapest
Hungary H-1036
Common All Officers and 2,000,000 89%
Directors as a Group
(Two [2] individuals)
(*) Record and Beneficial Ownership
2
There are currently no arrangements that would result in a change in our
control.
None of the Company's officers and/or directors receives any compensation for
their respective services rendered to the Company, nor have they received such
compensation in the past. As of the date of this report, we have no funds
available to pay directors. Further, none of the directors are accruing any
compensation pursuant to any agreement with us. Robert Wilson and Dr. Gabor
Szabo, and each of them, have agreed to act without compensation until
authorized by the Board of Directors, which is not expected to occur until we
have generated revenues from operations or after we have generated revenues from
the acquisition of another business opportunity. The current financial crisis
has had an adverse effect on our ability to attract students to our financial
literacy and money management educational program. We are currently inactive and
we will remain inactive until such time as the economy starts to improve. We may
also seek out other business opportunities.
We have not adopted any retirement, pension, profit sharing, stock option or
insurance programs or other similar programs for the benefit of our directors,
officers and/or employees.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: May 18, 2009
TEEN EDUCATION GROUP, INC.
By: /s/ ROBERT L. WILSON
__________________________
Robert L. Wilson
President and Director
3